Crude Oil Futures Slip Amid Oversupply

Crude oil prices declined by ₹6 to ₹8,331 per barrel in futures trading on Wednesday as weak global market trends and fears of oversupply pressured prices downward. On the Multi Commodity Exchange (MCX), crude oil futures for May delivery fell 0.07 percent, with trading recorded across 6,119 lots.

Market analysts said the decline was driven by traders reducing positions amid subdued demand in the spot market, reflecting cautious sentiment over excess supply and weaker consumption trends worldwide.